True / False
1. A principal has the right to control an agent’s conduct in matters entrusted to the agent.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Introduction
LEARNING OBJECTIVES: LO - 1
NATIONAL STANDARDS: United States - BUSPROG - Analy...
,1. In a brief filed in Lea's suit against Mica in a state court, Neil, Lea's attorney, cites, Ole! Cafe v. Pan Foods Corp., an
unpublished opinion. With respect to the persuasiveness of unpublished opinions, most states
a. allow their courts to consider such opinions.
b. do not allow their courts to consider such opinions.
c. impose certain hierarchical rankings.
d. require their courts to consider such opinions.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: The Common Law Tradition
LEARNING OBJECTIVE LO-3 - LO - 3
S:
NATIONAL STANDARDSUnited States - AACSB Reflective
:
LOCAL STANDARDS: United States - OH - Default City - AICPA Legal
TOPICS: CHAPTER 1---ONLINE DEVELOPMENTS: HOW THE INTERNET HAS EXPANDED
PRECEDENT
KEYWORDS: Bloom's: Application
2. In a brief filed in Gene's suit against Hoyt in a federal court, Ilsa, Gene's attorney, cites, Jon v. Klint, an unpublished
opinion. According to a ruling of the United States Supreme Court, the judge in Gene's suit
a. may consider the unpublished opinion persuasive.
b. must apply the unpublished opinion as binding.
c. must ignore the unpublished opinion.
d. must issue a judgment in Hoyt's favor.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: The Common Law Tradition
LEARNING OBJECTIVE LO-3 - LO - 3
S:
NATIONAL STANDARDSUnited States - AACSB Reflective
:
LOCAL STANDARDS: United States - OH - Default City - AICPA Legal
TOPICS: CHAPTER 1---ONLINE DEVELOPMENTS: HOW THE INTERNET HAS EXPANDED
PRECEDENT
KEYWORDS: Bloom's: Application
3. Ira is a judge in a court of equity. In this court, Ira may bar a suit if it is not filed within a proper time under the doctrine
known as
a. equitable limitations.
b. equitable maxims.
c. laches.
d. limitation de baris.
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: The Common Law Tradition
,LEARNING OBJECTIV LO-4
ES:
NATIONAL STANDAR United States - AACSB Analytic
DS:
LOCAL STANDARDS: United States - OH - Default City - AICPA Legal
TOPICS: CHAPTER 1---LANDMARK IN THE LEGAL ENVIRONMENT: EQUITABLE PRINCIPLES
AND MAXIMS
KEYWORDS: Bloom's: Application
4. Keisha is a state court judge. A statute of limitations limits
a. the amount of a judgment that Keisha can issue in any one case.
b. the length of a trial in Keisha's court.
c. the number of cases that Keisha is permitted to hear.
d. the time during which a certain suit can be brought in Keisha's court.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: The Common Law Tradition
LEARNING OBJECTIV LO-4
ES:
NATIONAL STANDAR United States - AACSB Reflective
DS:
LOCAL STANDARDS: United States - OH - Default City - AICPA Legal
TOPICS: CHAPTER 1---LANDMARK IN THE LEGAL ENVIRONMENT: EQUITABLE PRINCIPLES
AND MAXIMS
KEYWORDS: Bloom's: Application
5. Bly is a judge in a country that follows a common law system. In this system, Bly's application of a principle of law to a
certain set of facts must be adhered to by
a. all judges in courts of inferior rank.
b. all other judges.
c. no other judges.
d. only those judges who elect to apply it.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Classifications of Law
LEARNING OBJECTIVES: LO-5
NATIONAL STANDARDS: United States - AACSB Reflective
LOCAL STANDARDS: United States - OH - Default City - AICPA Critical Thinking
TOPICS: CHAPTER 1---BEYOND OUR BORDERS: NATIONAL LAW SYSTEMS
KEYWORDS: Bloom's: Application
6. Arno is judge in a country that follows a civil law system. In Arno's court, the primary source of law consists of
a. administrative decisions.
b. a statutory code.
c. case precedents.
, d.the laws of other nations.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Classifications of Law
LEARNING OBJECTIVES: LO-5
NATIONAL STANDARDS: United States - AACSB Reflective
LOCAL STANDARDS: United States - OH - Default City - AICPA Critical Thinking
TOPICS: CHAPTER 1---BEYOND OUR BORDERS: NATIONAL LAW SYSTEMS
KEYWORDS: Bloom's: Application
7. Global Enterprises Corporation (GEC) engages in what some unhappy ex-employees and disgruntled consumers
consider to be bad corporate behavior. These individuals post "horror stories" about GEC on rogue Web sites. By
providing a forum for complaints, the potential for damage to the reputation of any corporation via the Internet has
a. decreased.
b. increased.
c. neither decreased nor increased.
d. both decreased and increased.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Global Business Ethics
LEARNING OBJECTIVES:LO-5
NATIONAL STANDARDS: United States - AACSB Ethics
LOCAL STANDARDS: United States - OH - Default City - AICPA Critical Thinking
TOPICS: CHAPTER 2---ONLINE DEVELOPMENTS: CORPORATE REPUTATIONS UNDER
ATTACK
KEYWORDS: Bloom's: Application
8. World Investment & Trading, Inc. (WIT), encourages its employees to build trust with its customers and other
companies. Unfounded complaints and exaggerated charges leveled against WIT online would most likely be regarded by
a court as
a. an expression of fact.
b. a form of speech protected by the First Amendment.
c. an inappropriate online disclosure.
d. libelous.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Global Business Ethics
LEARNING OBJECTIVES:LO-5
NATIONAL STANDARDS: United States - AACSB Ethics
LOCAL STANDARDS: United States - OH - Default City - AICPA Critical Thinking
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